What To Know
- A new platform in Dubai allows local residents to buy property for just 2,000 dirhams, thanks to the first tokenised real estate investment platform in the region.
- Prypco Mint was developed in cooperation with the Dubai Land Department (DLD) and gives users a chance to own part of ready-to-buy properties available in Dubai.
- The launch is part of plans set by D33 and Dubai Real Estate Sector Strategy 2033, seeking to make Dubai a leading place for safe and intelligent real estate investments worldwide.
A new platform in Dubai allows local residents to buy property for just 2,000 dirhams, thanks to the first tokenised real estate investment platform in the region. Prypco Mint was developed in cooperation with the Dubai Land Department (DLD) and gives users a chance to own part of ready-to-buy properties available in Dubai.
People with UAE ID cards are able to use the platform at mint.prypco.com, with plans to open it worldwide in the future. All payments made during the pilot are made with UAE Dirhams, not with cryptocurrencies. All investments in our list show important data like pricing, engineering specs and risk aspects.
VARA, the UAE central bank and the Dubai Future Foundation are backing theReal Estate Sandbox Initiative. The pilot will be facilitated with Zand Digital Bank as its official banking partner.
Any investment funds are store in Client Money Accounts (CMA) and the Central Bank is responsible for overseeing them. Cryptos are sent only after sales are done, to guarantee there is no fraud.
People expect the digital platform to change Dubai’s real estate sector and it is projected that tokenised assets could account for 7% of the market by 2033, approximately AED60 billion. You can enjoy reward from the extra income and the sale of your investment and leave the work of property management to others.
At this time, only Prypco and Ctrl Alt which are licensed by VARA, can provide tokenised property setups. The launch is part of plans set by D33 and Dubai Real Estate Sector Strategy 2033, seeking to make Dubai a leading place for safe and intelligent real estate investments worldwide.
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